Sell with Confidence
Read More

First home buyers in decline across SA

By Brett Pilgrim

People in South Australia could be relying on rental properties in Adelaide for longer than many other parts of the country, as they are finding it difficult to get onto the ladder.

The September quarter Adelaide Bank/ REIA Housing Affordability Report points to a rise in the number of buyers being able to access property – although SA is largely an exception.

"Unfortunately, SA recorded a significant drop in the number of first home buyers following the state government's decision to remove the First Home Buyer Grant for established dwellings," said CEO of the Real Estate Institute of Australia (REIA) Amanda Lynch.

She revealed that this contributed to the downward trend in first-time buyers seen across the country, leaving many people renting property rather than purchasing their own.

REIA figures show first home buyers now comprise 12 per cent of the owner-occupier market, which is notably lower than the average of 19.7 per cent seen over recent years.

National statistics show the proportion of income needed to meet loan repayments fell 0.5 per cent during the three months to September to reach 30.4 per cent.

This follows the release of the November CoreLogic RP Data Home Value Index, which revealed that home price rises are starting to moderate across capital cities.

Only Sydney, Hobart, Brisbane and Perth witnessed increases in home values over the course of the month, while the remainder of the capitals saw prices decline.

This opens up the market to anyone who is yet to invest in rental properties in Adelaide, especially if first-time buyers are struggling to enter the market as the REIA suggests.

RP Data found there has also been a rise in the number of homes listed for sale across the capitals, so you could discover there are more properties than ever to choose from.

Up to Date

Latest News

  • Look Luxe for less: Fuss free upgrades that won’t break the bank

    By Laura Barry in association with Whether you’re looking to update your home according to the season, or want the space to feel a little more polished, there are a few simple changes you can make to your interior to achieve a luxe look without a big outlay. Elevating your interior style … Read more

    Read Full Post

  • Say farewell to your empty wall

    By Samantha van Egmond in association with Discover budget friendly ways that fill your large walls with mirrors, art and textiles. A bare, white wall in your living area can be intimidating and make even the loveliest of homes feel cold, especially in winter. However, there are ways to inject personality into … Read more

    Read Full Post